Daybright(SZ:300670)2023-09-21 13:18Group 1: Business Overview - Jiangsu Daye Intelligent Electric Co., Ltd. primarily serves provincial power companies under the State Grid, with revenue from these clients accounting for 85% of the smart distribution equipment revenue [2] - The company is actively expanding its direct sales business, aiming to increase its share in the future [2] Group 2: Performance and Growth Drivers - The company experienced significant growth in the first half of the year due to a robust order backlog in the smart distribution business and the recognition of revenue from photovoltaic projects [3] - Increased investment in the power grid has also contributed to the company's performance growth [3] Group 3: Competitive Advantages - The company has established a strong reputation in bidding processes due to its technical advantages, product quality, and comprehensive after-sales service [3] - Years of experience in bidding has provided the company with a competitive edge in pricing [3] Group 4: Product Development and Market Expansion - The company offers various energy storage products, including storage batteries and hybrid inverters, and is developing micro-inverter products expected to launch in Q4 [3] - The company is conducting market research for balcony photovoltaic products, with plans to introduce integrated solutions soon [3] Group 5: New Energy Business - The new energy business, including photovoltaic and offshore wind installation services, is expected to significantly increase its revenue share in the company's total income [4] - The offshore wind installation vessels have begun operations, enhancing the company's capabilities in this sector [4]